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US-China embark from trade-war to trade talks

ANI  |  Beijing [China] 

The officials and representatives from the business community on Friday took part in the third California-Business Summit to address the rising trade conflicts between the two countries.

The summit was co-organised by Los-Angeles-based Week and Several Chinese media had covered the summit as they seemed to collectively give an optimistic view about the summit, while seeming to advise caution to the Chinese policymakers.

As reported by the Daily, said at the summit that both the countries are engaged. "This meeting brings chambers of commerce and businesses together, which is really important. I pledge will be open to business and collaboration."

The highlighted that the two countries must seek a win-win situation through dialogue than conflict while quoting Brown.

Further Week Peter Shiao was quoted saying that the "silver lining" is that China and the US have engaged in communication "for the first time in a long time".

A China's daily editorial highlighted the warning of the about the possibly devastating impact of the trade war on the global economy.

Shia further called upon the people to come forth and preserve the bilateral trade relationship, which is "too important to fail".

China's also quoted Brown saying China and the should work together to promote the global economy despite rising tensions due to the trade dispute between the two countries recently while adding, "a trade war is stupid".

The article also highlighted that China is now California's largest trade partner, the largest source of imports and the third-largest export market.

It took to its official handle to say, "China and the U.S. reach agreements on some issues in economic and trade consultations in and agree to set up a work mechanism to keep close communication."

The Morning Post reported that demanded to halt subsidies for industries under the "Made in China 2025" plan and that China should not resort to retaliatory measures against It further asked China to cut the trade deficit by at least US$200 billion by the end of 2020.

The article clearly mentioned that though the trade talks were somewhat positive no breakthrough could take place as it featured a headline saying, "No breakthrough but some consensus in China-US trade talks".

Earlier on Thursday US tweeted, "Our great financial team is in China trying to negotiate a level playing field on trade! I look forward to being with in the not too distant future. We will always have a good (great) relationship! "

The two-day US-China trade talks will end on May 4. The US delegation is being led by while China is represented by Chinese

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, May 04 2018. 16:10 IST
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